Bobby,
I noticed that you didn't say where you are or the conditions in which your slab was poured or is curing (inside/outside/temp/humidity).
As a general rule, you want to get the expansion joints cut as soon as possible. When the slab cures it shrinks, that's what causes the first cracks. Concrete cures significantly within the first 24-36 hours. I noticed you posted at 6:00 last night, I'd be on that slab today (depending on conditions). Granted you don't want the slab to be too green, but I'd say 30 hours (depending on conditions) would be a good rule of thumb. If you wait to long, it's going to make it's own expansion joints.
Remember, the slab IS going to crack, expansion joints just tell it where. Most people don't realize that there are cracks at the bottom of their expansion joints.
Regarding depth, it depends. Rule of thumb for basic 4"-6" would be 1/3 depth.
I'm sure there are more opinions here, but that's how I do it.
Good luck!